DGCX to commence steel futures trading today

Monday, 29 October 2007 10:30:29 (GMT+3)   |  
Dubai Gold and Commodities Exchange (DGCX) will today commence trading steel futures - an innovation regarded by most market players as an opportunity to manage price risk and cope with price volatility.

DGCX has also announced that its list of approved producers has expanded with the addition of two more rebar manufacturers: Turkish rebar producer Kroman Celik Sanayi A.S and UAE-based Emirates Iron and Steel Company.

As a result, the total number of approved mills has increased to eight. The mills previously approved by DGCX include Izmir Demir Celik Sanayi A.S, Ekinciler Demir Celik A.S, Diler Demir Celik End. ve Tic A.S, Al Tuwairqi Group, Sabic Steel and Qatar Steel.

In a statement on the issue, DGCX said, "The contract provides the region's steel community with a cost-effective tool to hedge risk arising from extremely volatile prices. In addition, it offers an alternate and attractive avenue for investors with exposure to either steel equities or the physical market."

Marketplace Offers

Deformed Bar

Diameter 8 - 40 mm
 
Tedarikçi CONARES METAL SUPPLY
View Offer

Deformed Bar

Diameter 6 - 32 mm
  ES ISO 6935-2 2019 B500BWR , ASTM A615 GR 60
Tedarikçi YOTTA TRADING
View Offer

Deformed Bar

Diameter 8 - 32 mm
 
Tedarikçi SHATTAF STEEL IND. CO. LLC.
View Offer

Similar articles

Rebar market: Europe is on holiday and slight rise seen in Middle East

US import long steel prices stable; new regulatory pressure may trim Asian supply

US long steel prices flat at Q4 start even as market fundamentals show strength

Turkish domestic rebar spot prices soften at start of October

European longs market under pressure, prices trend up but uncertainty persists

Bulgarian longs prices show little movement as buying remains uneven

Local Algerian rebar prices supported by limited output and supply, exports almost absent

Romanian longs prices edge up as transport costs add pressure despite limited demand

Argentina's crude steel output declines 2.9 percent in August from July

Weaker domestic mood in Turkey pulls down local and export longs prices